FX.co ★ Wave analysis of EUR/USD for July 29, 2010

The EUR/USD price has continued to move in very narrow sideways corridor along the horizontal line identifying the correctional level of 61.8% (1.3000). it should be noted that for the euro such horizontal movement is not usual and can speak for accumulating potential ahead sharp and dynamic changes on the market. In any case, the ratio between the assumed waves 1 (or A) and 3 (or C) remains unreached for now and the 5th wave in 5th is incomplete.